₦airaland Forum

IamtheDef:
I wonder what FAAM is doing to maintain theirs @19ish. Drops everywhere

Creditalerts:
pls is there holding period on FAAM by investar because their app state otherwise

Cc @emmasoft

emmasoft:
It's as you can see. It's one of First Ally's way of attracting prospects. MMF doesn't have the usual 30 days holding period. This actually came into effect in January this year; it was otherwise before now.

Oyibopepe2000:
Pls kindly tell me where or how one checks on the app or their web portal to know if one opted for interest reinvestment or not as I do not remember which I opted for.
Thank you.

emmasoft:
It's as you can see. It's one of First Ally's way of attracting prospects. MMF doesn't have the usual 30 days holding period. This actually came into effect in January this year; it was otherwise before now.

emmasoft:
Unrealized interest means interest already earned but has not been paid to you. I believe you opt for interest payout hence by end of the quarter you will be credited all earned interest from Oct 1 to Dec 31st. Otherwise those earned interest suppose to be reinvested at tbe end of each month if you had opted for interest reinvestment.

There is no changes when depositing dollar cash into their collection account.

By SEC rule, you are only paid by transfer into your dom account, No withdrawal of cash at the bank and no charges from Norrenberger for transfer.

Dollar collection acct:
Account Name: DLM Trust Company/Norrenberger Dollar Fund
Account Number: 0040306013
Bank: Stanbic IBTC

Kindly use the second link in my signature to open your account.

Sirchiboy:
I am new to money market.
I put 1m into Stanbic mmf last month.
How much will I get everymonth

IamtheDef:
I wonder what FAAM is doing to maintain theirs @19ish. Drops everywhere

Sirchiboy:
I am new to money market.
I put 1m into Stanbic mmf last month.
How much will I get everymonth

shangos:
Good evening boss,
Thanks for your response. I only notice this unrealised interest on months I make withdrawals. But my balance seems to be intact.
As for norrenberger dollar mutual fund I read somewhere after paying in I have to reach out to my relationship manager to follow up. Assuming I can't reach my relationship manager my account won't reflect funding.
Lastly to login into the norrenberger app today has been very difficult, is this a general experience or just me

excel127:
Followed your guide and myinvester app seems like the easiest to setup. Everything is ready for me

Any idea if it's safe to deposit big savings on their mmf like 8m or so

excel127:
Followed your guide and myinvester app seems like the easiest to setup. Everything is ready for me

Any idea if it's safe to deposit big savings on their mmf like 8m or so

emmasoft:
Don't worry by end of the quarter you will understand better as per unrealised interest.
Sending evidence of payment after cash deposit is necessary for ease in tracing funds, it doesn't necessarily have to be your relationship manager. You can always send it to customer care email address.

Have you set up your account on the web portal? If not, it could be the reason you are having issues. I used the app today, no issues, or it could be some other reasons. Please address issues like this to customer care with a screenshot of the error message; you can also reach out to me via WhatsApp to avoid posting what is not meant for public consumption here.

emmasoft:
Very safe. If you are in Lagos, you can even pay a visit to their office in Ajose Adeogun Street, close to the Zenith Bank head office in VI

You are welcome on board

nickae:
So I decided to test Norrenberger MMF and unfortunately the rate as at today is 16.07%, I thought it was mentioned that it about 19%

emmasoft:
All MMF rates are daily valued; it's not like a bond or fixed deposit, where you have a fixed return throughout the duration or tenor of the investment. The flexibility is the uniqueness of MMF.

nickae:
Correct, but for rate to drop from about 19% to 16% is a sense of concern , cos stanbic had consistently been on 16% while cowrie wise had been like 17%, or did Norrenberger just realized the interest rate had dropped

emmasoft:
There is nothing like concern when it comes to MMF. The nature of MMF remains the same, regardless of the manager, and once the underlying assets are revalued, the rate will always change. There is actually no problem with any fund manager. None of them invests in any thing other than TBills and commercial paper.

nickae:
So I decided to test Norrenberger MMF and unfortunately the rate as at today is 16.07%, I thought it was mentioned that it about 19%

IamtheDef:
In your opinion sir, is there any disadvantage chasing rates? I mean it makes no sense to remain with MMF option A @15% ish when MMF option B is @19% ish, seeing as there's absolutely no risk in the product itself irrespective of the manager

emmasoft:
There is nothing like concern when it comes to MMF. The nature of MMF remains the same, regardless of the manager, and once the underlying assets are revalued, the rate will always change. There is actually no problem with any fund manager. None of them invests in anything other than TBills and commercial paper.

If you check now, Norrenberger is 21.89%. today.

emmasoft:
My own approach is to have more than one fund manager for MMF. Normally, investment in any of them is based on the objective of setting it up. However, I look at the movement of rate in a given period, such that more funds are allocated to the one that has an average higher rate than the other, though there are other considerations such as customer service, ease of redemption, etc.

Please note that MMF rate is always in a range and dynamic, you can not decide on the rate just because of the rate of one or two days.
For example, we saw Norrenberger at 18%+ 2 days ago, yesterday 16%+, and today it's 21%+. So the best thing is to have more than one, then channel more funds to the one that seems to have a high average rate, and when the tables turn, you also follow likewise rather than just moving your funds here and there.

IamtheDef:
Meanwhile has anyone been able to use Norrenberger today... Both the app and web portal aren't available

suckprick:
@emmasoft, I want to ask, is there a difference between MMF and Tbills? Someone advised me to invest in Tbills instead of MMF. As I am looking to invest a huge sum, I need as much market analysis and advice as I can get. Please shed more light at your convenience. Thank you.

suckprick:
@emmasoft, I want to ask, is there a difference between MMF and Tbills? Someone advised me to invest in Tbills instead of MMF. As I am looking to invest a huge sum, I need as much market analysis and advice as I can get. Please shed more light at your convenience. Thank you.

ipobcannibals:
T-bills are better than MMF because T-bills interests are locked in for the duration of your investment, while MMF’s interests fluctuates on a daily basis.
MMF was 23.7% at the beginning of the year, but now it’s averaging 16%. On the other hand, investors who locked in T-bills at 18.5% in January for 1 year got a better average interest when compared to MMF today.

ipobcannibals:
T-bills are better than MMF because T-bills interests are locked in for the duration of your investment, while MMF’s interests fluctuates on a daily basis.
MMF was 23.7% at the beginning of the year, but now it’s averaging 16%. On the other hand, investors who locked in T-bills at 18.5% in January for 1 year got a better average interest when compared to MMF today.